Focus Partners Advisor Solutions LLC Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Focus Partners Advisor Solutions LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,922 shares of the semiconductor manufacturer’s stock after purchasing an additional 885 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Micron Technology were worth $667,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Beacon Capital Management LLC boosted its position in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC purchased a new stake in Micron Technology in the 4th quarter valued at about $33,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Micron Technology in the 4th quarter valued at about $34,000. Curio Wealth LLC purchased a new stake in Micron Technology in the 4th quarter valued at about $34,000. Finally, Activest Wealth Management boosted its position in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 350 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MU has been the subject of several research reports. Wall Street Zen cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley lowered their price target on shares of Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Wedbush reaffirmed an “underperform” rating on shares of Micron Technology in a research report on Monday, April 28th. JPMorgan Chase & Co. lowered their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Finally, China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.48.

Micron Technology Trading Down 1.5%

NASDAQ MU opened at $93.37 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The firm has a market cap of $104.35 billion, a PE ratio of 26.91 and a beta of 1.21. The company has a 50 day moving average price of $82.82 and a 200 day moving average price of $92.48.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the business posted $0.42 EPS. Micron Technology’s revenue for the quarter was up 38.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. Micron Technology’s payout ratio is 11.03%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is owned by corporate insiders.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.